Over time, the value of a house will fluctuate up and down.
House values appreciate in the long term for the most part.
But, of course, in real estate there is always a certain amount of risk.
When your home appreciates you have a larger asset to borrow against, and you get a greater profit when you sell.
But how can you be sure what you're investing in today will appreciate over time? Property values in Topton rise and fall for numerous reasons.
The most important thing is that you choose a REALTOR® in Topton who is familiar with the factors that drive local prices.
The economy is believed to be the biggest factor impacting real estate appreciation.
It goes without saying that
there are many issues on a national level that affect your home's value: unemployment, mortgage rates, the stock market, and more.
However, your home's value and the factors that play the biggest role in its appreciation are specific to the local Topton economy and housing market.
Location in a community - Proximity to jobs and schools also have a huge effect on almost all home buyers' choices.
So when it comes to holding their value, these areas typically appreciate better than others.
Real estate sales trends - Are homes on the market 30, 60, or 90 days or even longer? Are sellers needing to discount much? Some information can be retrieved from public records, but a good agent with a login to the local MLS will usually be able to provide a more complete picture.
History of appreciation - In the past 5-10 years, have property prices risen or declined? Does location or affordability affect how desirable the community is thought to be?
Economic factors - Have companies moved into or away from an area? Are local companies hiring? Is there a good combination of job types in an area, or does it rely on just one industry?
All these play a part.